This decline in the jobless rate is certainly the largest drop we've seen in recent months, so it does suggest a stronger labor market than we expected.
More Quotes from Jared Bernstein:
Economists said the data suggested a long-awaited change in the outlook of employers, a movement away from years of reluctance to add new workers. The rate of job creation from 2000 through mid-'04 was just stuck in the cellar, ... and this was an underappreciated, ongoing cause of the jobless recovery.Jared Bernstein
When income growth is concentrated at the top of the income scale, the people at the bottom have a much harder time lifting themselves out of poverty and giving their children a decent start in life.
Jared Bernstein
Folks at the top of the income scale definitely notice when they're paying 3.50 a gallon for gasoline. But for them, that doesn't necessarily mean they are going to have to cut back elsewhere, ... Younger families have lower incomes.
Jared Bernstein
Folks are coming back into the labor market, but they're not finding jobs there. The tepid pace of job growth was too low to keep unemployment from rising. We're looking at a fairly weak recovery, at least initially.
Jared Bernstein
Where you see immigration competition play out most clearly is among high school dropouts. I'd say there's clearly immigrant competition among the least-skilled workers, but natives are a shrinking share while immigrants are a growing share.
Jared Bernstein
I think the fingerprints of a faltering job market are all over this report. We've got more people working, but they're failing to get ahead.
Jared Bernstein
Readers Who Like This Quotation Also Like:
The freedom to be an individual is the essence of America.Marilyn vos Savant
If you want to get an education in how to get a story and how to survive, then get a street reporter job in New York City.
John Tesh
I really liked the Seattle movement.
Axl Rose